What’s next for Bangladesh: ROADMAP FOR GROWTH
Bangladesh ready for new Generation Textiles: SYNTHETICS FIBRES, YARNS & SUPPLY CHAIN
Business of Brands: CHANGING DYNAMICS OF SOURCING
New Products: ATHLEISURE, ACTIVEWEAR & SPORTSWEAR
Denims & JeansWear: THE PREMIUM PRODUCT BECOMES THE FOCUS
World of Cotton & Beyond: FIBRE, YARNS & SUPPLY CHAIN
Techhnology Upgradation: TEXTILE 4.0 & APPAREL 4.0
Sustainability: THE ROLE OF RAW MATERIAL AND DYES, CHEMICALS
Compliance: BEST & FAIR PRACTICES ALONG THE SUPPLY CHAIN
Bangladesh, the second largest apparel exporter to the world after China, exported garments worth US$ 30.61 billion in 2018. Its apparel exports have grown from $ 4.8 billion in 2000 at a CAGR of 13% and are expected to keep growing in double digits in the future.
Bangladesh is targeting to touch US$ 50 billion worth of exports by 2022, coinciding with Golden Jubilee (50 years) of their independence.
For its garment manufacturing, Bangladesh significantly needs to depend on imports of raw material including fibre, yarn, fabrics, dye stuff, machinery (both textile and garment), as well as all other services needed for successful exports of RMG. Its imports of clothing raw materials have increased at a CAGR of 7% reach $10.3 billion in 2016.
Currently, Bangladesh imports its required consumption of yarn and fabric to fill the demand-supply gap. Out of its total imports, cotton textiles is the largest imported category by Bangladesh, representing 55% of total textile and apparel imports (2016). This is followed by man-made textiles, others and apparel with a share of 35.0%, 6.8% and 3.2% respectively.
Bangladesh is also fast working on becoming self sufficient in terms of raw material like yarns, fabrics etc. Many new investments are planned in the spinning and weaving sectors of Bangladesh in the coming years with many big firms showing their interest to set up spinning and weaving units there, resulting in lot of technology machinery/parts and know-how support.
Global experts analyse, strategise and draw roadmap for the growth of Bangladesh industry...discussing possible mantras of growth like Backward linkages and Verticalisation, Higher Valued products, Branding, penetrating into Emerging Markets, and Collaborations & Cooperations... What are the strengths and opportunities Bangladesh can count on? Also how should Bangladesh fight infrastructure and logistic bottlenecks for faster growth?
A good start is half the battle won. The need of the hour for Bangladesh is to have better control over all the factors that impact raw material input costs through efficient sourcing, quality, buffering global supply and demand fluctuations and risk hedging. And further targeting higher value additions through conversions into yarns, fabrics, garments ...a fibre to fashion journey.
Ever increasing expectations of global brands in terms of shorter lead time, reducing volumes, squeezing prices and increasing investments in technological gradation... the business is increasingly becoming challenging...how is Bangladesh gearing up to take its industry to the next level?.... Global brand leaders share their experiences and expectations from Bangladesh.
Denims and Jeanswear have contributed significantly towards the growth of Bangladesh. Being one of the largest exporters to the USA and the EU, Bangladesh today can boast of the finest jeans manufacturing eco-system. Increasing denim garment exports have made Bangladesh one of the largest denim fabric consuming countries in the world. More and more global denim fabric manufacturers are converging on Bangladesh with their specialized and innovative products, while the local industry is rapidly increasing denim fabric manufacturing.
The current global trend is increasing consumption and marketing of sportswear, athleisure and performance clothing and fabrics. Bangladesh needs to gear up for upgrading this sector to continue its growth. A lot of technological innovation, fresh investments, knowledge and skill sets are needed to penetrate into this newer area.
Bangladesh today can boast of the maximum number of green and compliant factories in the world, having faced the challenge boldly…but still a lot needs to be done to meet sustainable, compliant and transparent manufacturing processes and to follow the best practices to retain global buyers.
Automations, new technologies, IT, Artificial Intelligence and robotics are entering garment manufacturing in a big way. Buyers are looking for fewer factories as suppliers but factories with modern technology and high efficiency. Advanced technology is also a safer bet for survival and better business profitability.
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DSM COMMODITIES LTD.
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Gulshan Circle #01, Gulshan, Dhaka-1212, Bangladesh
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